Bruce Steinberg
Bruce Steinberg
core fall inflation percent year
In the first year of every recovery, inflation has fallen; and we think the core CPI will fall to 2 percent by year-end.
easily gains gradually job market percent support
As the job market gradually improves, it should easily support consumer-spending gains of at least 3.5 percent this year.
ease late soon
I think they may ease as soon as late January.
attitude believe ease fed last rather remarks testimony
Greenspan's testimony was balanced. We believe today's remarks were enough to think that the Fed will take a 'wait and see' attitude rather than ease one last time.
economy economy-and-economics hints remains
The economy remains weak, but hints of stabilization are emerging.
begun far federal problems reserve resolved terms
These problems have begun to improve, but they're far from resolved in terms of problems. So the Federal Reserve has got to keep moving.
economic fed likelihood market remove report rule stay
The market has just dodged a bullet. What this report does is remove the likelihood of a Fed tightening on Oct. 5, but we really can't rule out a tightening in November. We have to stay tuned for more economic data.
barely core economy-and-economics great inflation literally measured past prices wholesale year
This is a great PPI number. We have literally no wholesale inflation in the U.S. economy. The PPI went down, the core PPI was unchanged, and over the past year wholesale prices measured by the core PPI are barely up at all.
acquainted continuity good
They are very well acquainted with each another and I think they will have a good working relationship. So there will be continuity of policy. But still, I think Rubin's departure, at the end of the day, is still a loss.
economic stay
We have to stay tuned for more economic data.